Braze, Inc. $BRZE Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. grew its holdings in shares of Braze, Inc. (NASDAQ:BRZE) by 5.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,911,907 shares of the company’s stock after purchasing an additional 447,746 shares during the period. Vanguard Group Inc. owned approximately 8.52% of Braze worth $321,542,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Tower Research Capital LLC TRC grew its holdings in Braze by 168.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 646 shares of the company’s stock worth $27,000 after acquiring an additional 405 shares during the period. GAMMA Investing LLC grew its holdings in Braze by 236.1% during the first quarter. GAMMA Investing LLC now owns 736 shares of the company’s stock worth $27,000 after acquiring an additional 517 shares during the period. Versant Capital Management Inc acquired a new position in Braze during the first quarter worth about $54,000. IFP Advisors Inc grew its holdings in Braze by 15.3% during the first quarter. IFP Advisors Inc now owns 3,386 shares of the company’s stock worth $122,000 after acquiring an additional 449 shares during the period. Finally, State of Wyoming acquired a new position in Braze during the fourth quarter worth about $197,000. 90.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, General Counsel Susan Wiseman sold 4,786 shares of Braze stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $27.08, for a total transaction of $129,604.88. Following the completion of the sale, the general counsel directly owned 239,655 shares in the company, valued at $6,489,857.40. The trade was a 1.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Astha Malik sold 9,001 shares of Braze stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $30.01, for a total value of $270,120.01. Following the sale, the insider owned 249,979 shares of the company’s stock, valued at approximately $7,501,869.79. This represents a 3.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.20% of the stock is owned by insiders.

Braze Trading Up 3.9%

Shares of NASDAQ BRZE opened at $25.50 on Monday. Braze, Inc. has a one year low of $23.91 and a one year high of $48.33. The firm has a market capitalization of $2.69 billion, a PE ratio of -25.25 and a beta of 1.10. The business has a 50-day moving average price of $27.45 and a two-hundred day moving average price of $32.57.

Braze (NASDAQ:BRZE) last announced its quarterly earnings data on Thursday, June 5th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The firm had revenue of $162.06 million during the quarter, compared to analyst estimates of $158.60 million. Braze had a negative return on equity of 18.89% and a negative net margin of 16.76%. The business’s quarterly revenue was up 19.6% compared to the same quarter last year. During the same period last year, the company posted ($0.05) EPS. Research analysts anticipate that Braze, Inc. will post -0.98 EPS for the current year.

Wall Street Analysts Forecast Growth

BRZE has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their target price on Braze from $55.00 to $40.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC reissued a “buy” rating and issued a $50.00 price target on shares of Braze in a research note on Friday, June 6th. JPMorgan Chase & Co. dropped their price target on Braze from $47.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, June 6th. JMP Securities reissued a “market outperform” rating and issued a $68.00 price target on shares of Braze in a research note on Friday, June 6th. Finally, Stephens set a $41.00 price target on Braze and gave the stock an “overweight” rating in a research note on Friday, June 6th. One analyst has rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.50.

Braze Company Profile

Braze, Inc operates a customer engagement platform that provides interactions between consumers and brands worldwide. The company offers Braze software development kits that automatically manage data ingestion and deliver mobile and web notifications, in-application/in-browser interstitial messages, and content cards; REST API that can be used to import or export data or to trigger workflows between Braze and brands' existing technology stacks; Partner Data Integrations, which allow brands to sync user cohorts from partners; Data Transformation, in which brands can programmatically sync and transform user data; and Braze Cloud Data Ingestion that enables brands to harness their customer data.